Swiss firm Hublot reveals most expensive watch in the world

Hublot unveiled on Wednesday the world’s most expensive watch with a price tag of $5 million. Hublot watch with more than 1,200 diamonds, including six stones of more than 3 carats each. The company is owned by French luxury giant LVMH. Mr Jean-Claude Biver, president of the Swiss Watch Industry said it would be hard to make a more expensive watch ‘because the surface of the watch is limited.

According to the AFP news agency the watch was created by Swiss firm Hublot and took 17 people 14 months to make. Biver at the world’s biggest watch show in Basel said 17 people take 14 months to set the more than 140 carats of diamonds on the watch’s white gold bracelet. Biver president of the Swiss Watch Industry, told “We profit off the general growth of the economy in the region.”

Hublot is a Swiss enterprise creating luxury watches and founded in 1980 by Carlo Crocco. The company currently operates as a wholly owned subsidiary of France’s LVMH. Hublot and Ferrari announced during the 2011 Ferrari World Finals at Mugello a long-term strategic partnership which will officially start on 1 January 2012, making Hublot Ferrari’s “Official Watch” and “Official Timekeeper.”